CIRCULAR Circular No.

20170112-1

Circular Date

1/12/2017

Category

Trading

Segment

General

Subject

Master Circular-Trading ●

Attachments

●

Annexure I Part III-India International Exchange file format v1 2

Master Circular

PART I List of important circulars issued

PART II Master Circular

PART III (Annexures in attachment) Formats of various files and reports provided by the Exchange

For and on behalf of INDIA INX (IFSC) Ltd.

Soundararajan Venkatadas CRO

Arunkumar Ganesan Head - Operations

Contact details Phone: +91-79-61993101/2 Email id: [email protected]

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Contents PART I: List of important circulars issued .......................................................................................................... 3 PART II: Master Circular ..................................................................................................................................... 4 1. Trading Hours and Trading Holidays.......................................................................................................... 4 1.1 Trading Hours ...................................................................................................................................... 4 1.2 Trading Holidays .................................................................................................................................. 5 1.3 Mock Trading Schedule ....................................................................................................................... 5 2. Trading Parameters ................................................................................................................................... 5 2.1 Order types & Order attribute ............................................................................................................. 5 2.2 Order Entry Facilities ........................................................................................................................... 6 2.3 Contract Specifications: ....................................................................................................................... 6 2.4 Risk Reduction Mode (RRM) functionality .......................................................................................... 6 2.5 Trade Modification .............................................................................................................................. 6 2.6 Transaction Charges ............................................................................................................................ 7 3. Compliances............................................................................................................................................... 7 3.1 Proprietary Trading.............................................................................................................................. 7 3.2 Debarred Client.................................................................................................................................. 14 3.3 Self-Trade Prevention Check (STPC) Functionality ............................................................................ 14 3.4 Price Reasonability Check .................................................................................................................. 14 3.5 Reversal Trade Prevention Check (RTPC) .......................................................................................... 15 4. IT Applications and Facilities ................................................................................................................... 16 4.1 Online Trade Download (OTD): ......................................................................................................... 16 4.2 RTRMS Zero Terminal (ZT) System .................................................................................................... 17 4.3 Market Data ....................................................................................................................................... 19 4.4 Extranet facility for Members ............................................................................................................ 19 5. SUPPORT .................................................................................................................................................. 20 5.1 Trading Support ................................................................................................................................. 20 5.2 Creation of trading user ids ............................................................................................................... 20 5.3 Deactivation of Trading User IDs ....................................................................................................... 20 PART III - Formats of various files and reports provided by the Exchange .................................................... 30 2|Page

PART I: List of important circulars issued Sr. No.

Notice No.

1

20160930-26

2

20160928-3

Subject Mock Trading facility for INDIA International Exchange (IFSC) LimitedUpdate File formats of INDIA International Exchange (IFSC) & INDIA International Clearing Corporation (IFSC)

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PART II: Master Circular 1. Trading Hours and Trading Holidays 1.1 Trading Hours The products which shall be part of the India INX stable include the international products which are traded heavily in Asian, European and American markets. The Asian markets are ahead of Indian time zone while the European and American markets extend much beyond the Indian market timings. Due to this any information originating from countries in these zones with respect to the products being traded on India INX, have a direct bearing on price of the products. In order to facilitate participants in India INX and take advantage of global information inflows and to hedge their risk that might arise, the trading in India INX shall be conducted over a period of more than 21 hours. The trading shall commence early morning at 4.30 am (IST) and shall continue late till 2.30 am of the next day as per Indian Standard Time (IST). Thus the trading shall span across two calendar days and one such end to end trading cycle shall be designated as one single business day. Further, trading in each business day shall be divided in two trading sessions. The below table provides an illustration of the trading timings and the business day concept. Business Date Trading Timing 4:30 am to 5:00 pm 16-Jan-2017



   

Trading Session Session 1

05:30 pm to 2:30 am Session 2

As mentioned in the above table, the trading for ‘Business Date’ of 16-Jan-2017 shall be conducted over 2 trading sessions. & span across two calendar days viz 16-Jan-2017 and 17Jan-2017. The first trading session shall start at 4:30 am in the morning and shall end at 5:00 pm in the evening of 16-Jan-2017. There shall be a break between two trading sessions. The second session shall start at 5:30 pm evening 16-Jan-2017 and end at 2:30 am of 17-Jan2017. The ‘Business Date’ shall be provided to the members through the file name of the contract master file.

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1.2 Trading Holidays Trading Members are hereby informed that the Exchange shall observe the following Trading Holidays during the Calendar Year 2017: Sr. No Holidays Date Day 1. Republic Day 26-Jan-2017 Thursday 2. Independence Day 15-Aug-2017 Tuesday 3. Mahatma Gandhi Jayanti 02-Oct-2017 Monday The Exchange may alter / change the holidays, for which a separate circular shall be issued in advance.

1.3 Mock Trading Schedule Mock trading sessions are conducted by the Exchange from time to time for periodical testing of trading infrastructure and its recovery and response mechanisms. Large scale participation of members is quintessential for the success of such sessions.

2. Trading Parameters 2.1 Order types & Order attribute Types of orders:  Market order  Stop loss order  Limit order Applicable Retention type for the above orders:  End of day  End of session  Immediate or cancel (IOC) In addition to above, following order attributes are specified at the time of order entry:  Product Type  Asset  Expiry  Strike  Instrument Name  Scrip code/Token Number  Buy/Sell indicator  Total Quantity  Revealed Quantity  Rate  Market Protection (in %)  Client Id  Client type 5|Page

 

Order Type Retention Type

2.2 Order Entry Facilities 2.2.1 Calendar Spread Functionality

Calendar Spread - This facility shall help in creating simultaneously two positions viz. one shall be in near month futures instrument and 2nd shall be in the far month futures instrument of same underlying The trading convention of Futures Calendar Spread orders in India INX segment is as follows: 1. A Buy spread means, Sell in Near Month leg and Buy in Far Month leg. 2. A Sell spread order means, Buy in Near Month leg and Sell in Far Month leg. 2.3 Contract Specifications: The Contract specifications, trading parameters, and mode of settlement have been specified in Annexure-I, which shall be binding on all the members and constituents trading through them. 2.4 Risk Reduction Mode (RRM) functionality Exchange had introduced Risk Reduction Mode (RRM) functionality. Salient features of this functionality are:     

Trading Members shall be put in RRM on 90% utilization of the collateral deposited. All unexecuted orders shall be cancelled & returned to the member. Once in RRM, only orders that reduce open position (square-up orders) are allowed to get back within the permissible limit. Trading Members are allowed to reduce open positions by generating 1 order for each endclient against each open position in a security. Members shall be moved back to normal mode when collateral utilization is reduced below 85% and Clearing member has removed trading member out-off RRM mode through Exchange RTRMS (Real Time Risk Management) system .

2.5 Trade Modification While executing the trade for the said client, the stock broker enters the unique client code allotted to the client. However, there may be instances wherein the wrong code is entered by the stock broker while executing the trade. The stock brokers may modify the client codes only to rectify a genuine error in entry of client code at the time of placing / modifying the related order. For trading member, trade modification functionality is available in Exchange web based system called as RTRMS (Real-Time Risk Management) system. Trade modification shall be available trading

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session wise and the trades executed in respective session can only be modified. For example, trades done in session 1 shall not be available for modification in session two.

Trade Modification time in RTRMS Sr. No. Trading Session Trade Modification timings 1 Session 1 4.30 am to 5.00 pm 2 Session 2 5.30 pm to 2.30 am

2.6 Transaction Charges No Transaction charges shall be applicable till 31st March 2017.

3. Compliances 3.1 Proprietary Trading As directed by SEBI, it is hereby notified that Trading Members are required to specify the nature of the order in terms of the order being placed is a Client order or it is on their OWN account at the time of order entry on the trading system. In accordance with SEBI circular no. SEBI/MRD/SE/Cir-32/2003/27/08 dated August 27, 2003, Exchange is providing the facility of placing of orders on ‘proprietary account' through trading terminals. Accordingly, it has been decided that  Facility of placing orders on own account through trading terminals is extended only at one location of the members as specified / required by the members  Trading terminals located at places other than the above location shall have a facility to place orders only for and on behalf of a client by entering client code details as required / specified by the Exchange / SEBI.  In case any member requires the facility of using own account through trading terminals from more than one location within IFSC, such member shall be required to submit an undertaking to the stock exchange stating the reason for using the own account at multiple locations within IFSC and the Exchange may, on case to case basis after due diligence, consider extending the facility of allowing use of own account from more than one location within IFSC. A. Process of application for Proprietary Trading Exchange has provided facility on India INX Electronic Filing System (IIeFS) portal to handle proprietary account trading applications electronically. The process has been listed as follows: 

Trading member shall be required to send a request for grant of permission for proprietary trading on a particular terminal id via letter on IIeFS portal. 7|Page



o default location, o additional location (along with Undertaking for Additional Location) (Formats appended as Annexures below) The address of the terminal id will be verified against the office addresses of the members registered with the Exchange. In case the address is not registered the member will be intimated via IIeFS portal to share a copy of the address proof. Based on the trading profile of trading member, adequacy of Base Minimum Capital requirements for trading member will also be verified. In case of a shortfall, trading member will be required to replenish the same. In case the requested trading terminal is at the default location of trading member, the approval will be sent via auto-generated email from IIeFS portal. However, if the requested trading terminal is from an additional location, an approval letter will be made available to trading member on Extranet. Pro Enablement Request through IIeFS Application



Pro Disablement Request through IIeFS Application

  

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Format for Pro Trading from Default location Pro Account Format to be submitted on member’s letterhead (To be submitted to MEMBERSHIP DEPT.) Date: To, Membership Department, India INX (IFSC) Ltd, Gift City, Gandhinagar Kind Attn: Officer Incharge Sub: Pro-account Trading Terminal Dear Sir, We refer to the Exchange Notice ____ the captioned subject. In this connection, the details of the trading terminals from where we are placing orders on ‘Own Account’ are as under: (1) Sr. No

(2)

(3)

(4)

India INX User Name Postal Terminal with Address No./ IML/ETI Designation ID No.

(5) Name of the Directors, Authorized Persons along with the Designation supervising stationed at the location Persons along with the Designation supervising stationed at the location

(6) Default location Yes or No & Address of Default location

We hereby undertake that we will not place any order on ‘Own Account’ through any other terminals and location mentioned above without the prior approval of the India INX (IFSC) Ltd. Thanking you, Yours faithfully,

Signature (Director/ Authorized Signatory)

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Format for Pro Trading from Additional location within IFSC To, The Membership Dept., India INX (IFSC) Ltd, Gift City, Gandhinagar We, a Trading Member of India INX (IFSC) Ltd wish to avail of the facility of placing orders on “Pro-account” through trading terminals from more than one location within IFSC. In this regards, we are furnishing the following details:Name of Trading Member along with SEBI registration no:Default location where Pro-account is being availed:User User Name Postal Address Sr. Static IP/Leased Line (employee ID No. ID No. or not)

Primary

Details of investor Grievances (if any) Back Up

Details of additional location(s) in respect of which facility of using Pro-account sought Sr.No. User Id

User Name Postal (employee Addor not) ress

Static IP/ Leased Line Id No.

Primary

Name of the Reason Details of Director(s)/ Investor Partners(s) Grievances supervising (if any) stationed at the location with their designation. Back Up

Details of any adverse remarks and/or fines imposed by India INX (IFSC) Ltd pertaining to any inspection (if any):Yours faithfully,

(Name of the Trading Member)* For Corporate Member the application is to be signed by the Designated Director or any Director of the company named as an authorized signatory of the company accompanied by a Board Resolution.

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Format for Undertaking for availing Pro Trading from Additional location within IFSC.

UNDERTAKING FOR AVAILING PROPRIETARY ACCOUNT ORDER ENTRY FACILITY

We, ________________________________________, Company/ body corporate incorporated under the Companies Act, 1956 / __________________________Act, __________ and residing at having our registered office at ________________________________ give this UNDERTAKING on this the _______ day of _________ 2016 at _____________________ IN FAVOUR of India International Exchange (IFSC) Limited , GIFT City, Gandhinagar, Gujarat. WHEREAS

1. India INX (IFSC) Ltd provides the BOW Terminals to enable its Members to trade and in addition Exchange also provides Intermediate Message Layer (IML/ETI) connecting facility to Trading Members for order entry, receipt of order and trade confirmation and also for receipt of data relating to its trade quotations.

2. India INX (IFSC) Ltd, has prescribed that the facility of placing orders on “Pro-account” through trading terminals shall be availed by the Trading Members only at one location of the members as specified/ required by the Trading Members; any trading terminals located at a place other than the above location shall have a facility to place order only for and on behalf of a Constituent by entering client code details as required by India INX (IFSC) Ltd/ SEBI; and in case any Trading Member requires the facility of using “Pro-account” through trading terminals from more than one location, such Trading Member shall request India INX (IFSC) Ltd stating the reason for using the “Pro-account” at multiple locations.

3. India INX (IFSC) Ltd has a precondition to the Undersigned being permitted the facility of using “Proaccount” through trading terminals from more than one location required us to furnish the undertaking in the manner and on the terms herein below:-

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NOW THEREFORE IN CONSIDERATION OF India INX (IFSC) Ltd having agreed to allow us at our request to avail the Pro-account facility from more than one location, we hereby IRREVOCABLY AND UNCONDITIONALLY UNDERTAKE and agree to abide by and be bound by the following terms and conditions:1. That we undertake to enter proprietary orders only from the Pro-account terminals permitted by India INX (IFSC) Ltd and undertake not to misuse the said “Pro-account” facility and state that the proprietary trades on the Pro-account terminals pertain to proprietary trades and not client trades. 2. That we state that our Director(s)/ Partner(s) is/ are based at the location where the “Pro-account” trading terminals are located. The Pro-account facility shall be made available only after obtaining the prior written consent of India INX (IFSC) Ltd and subject to such terms and conditions as may be prescribed by India INX (IFSC) Ltd from time to time. 3. That we undertake to take all such steps and/ or precautions to ensure and keep ensured that the “Pro-account” facility is not extended to a location other than the location of the trading terminals where the “Pro-account” facility is permitted by India INX (IFSC) Ltd and the same shall not be extended beyond the location of such permitted trading terminals. 4. That India INX (IFSC) Ltd, at its absolute discretion, may make the Pro-account facility available to us only from the date of our enablement on the Pro-account facility till such time as it may deem fit and further that the Pro-account facility may at any time be withdrawn by Exchange at its discretion without giving us any notice or any reasons whatsoever. 5. That we shall execute, sign, and subscribe, to such other documents, papers, agreements, covenants, bonds, and/ or undertakings as may be prescribed or required by India INX (IFSC) Ltd from time to time. 6. That we undertake to abide by all the provisions of the Rules, Bye-laws and Regulations Circulars/norms and requirements that may be in force from time to time relating to use and operation of the trading System and that they shall also mutates mutandis become applicable to the use and operation of the Pro-account facility. 7. That we undertake to render all possible assistance and cooperation to India INX (IFSC) Ltd by providing all information in any form as it may require and shall produce such documents, records, accounts, books data howsoever stored including data stored in magnetic tapes, floppy diskettes, etc. and any other information as may be required by India INX (IFSC) Ltd at its discretion. WITNESS WHEREOF this Undertaking is executed by the undersigned on the day, month, year and the place first mentioned above. Signed by, for and on behalf of:

Before me

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Instructions for undertaking 1. The Undertaking is to be executed on a non-judicial stamp paper in accordance to the duty as payable in the place of execution or worth Rs. 100/- whichever is higher. 2. Further this Undertaking (including all annexures/schedules) has to be notarized before a Notary Public. 3. All the pages of this Undertaking (including all annexures/ schedules) have to be signed in full. The persons signing should also sign in full at all places in the Undertaking where anything has been hand-written/ any corrections have been made. The undertaking has to be signed by the designated director or any two directors of the company named as an authorized signatories of the company and undertaking has to be accompanied with a certified copy of the resolution of the board of directors of the company authorizing the person(s) executing the undertaking to do so.

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3.2 Debarred Client A consolidated list of entities debarred by Securities Exchange Board of India (SEBI) from accessing the capital market shall be published by the Exchange from time to time for information and necessary compliance by trading members. 3.3 Self-Trade Prevention Check (STPC) Functionality The Self-trade prevention check (STPC) functionality has been introduced with the purpose of preventing matching between a buy and a sell order entered in the same order book by a member for the same client originating from same or different trading terminals of the member as well as orders for the same client placed by different members in the same order book. Exchange performs STPC based on Permanent Account Number (PAN) of clients as available in the Exchange records. The check is performed at the time of matching in continuous session and not at the time when the order is entered. In the continuous session, if an incoming active order is likely to match with a passive order with an identical client identity in the same order book, the system shall cancel such incoming order thus preventing a self-trade. The above mentioned check shall also applicable for where client type is “OWN” on both sides of the trade.

3.4 Price Reasonability Check Price reasonability check is developed is on the lines of globally prevalent risk management measures and shall primarily reduce potential instances of market abuse and fat-finger errors and facilitate true price discovery and investor protection. In PRC functionality, each new (incoming) limit order price shall be validated with the Exchange defined Price Reasonability Range (PRR). PRR shall be dynamically computed and applied by the trading system using a real-time reference price. This shall ensure that the price of an incoming limit order is not too far off from the prevailing market prices. Salient Features:   

It is applicable to incoming limit orders. Price of incoming limit orders is checked with respect to PRR prevailing at that point of time. PRR is dynamically computed using a real-time reference price. The Reference price shall be based on Best Bid/Offer prices on each contract/security.  Incoming orders outside of the PRR at that particular time shall be rejected.  If best bid/offer price is not available or if the spread between best bid & best offer price is too wide, then the system shall compute PRR using LTP or previous close price as the reference price, as applicable.

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

Trading system automatically switches, in real-time, between using the best bid/offer price and LTP (or previous close price) as the reference price to compute PRR, depending upon the order book situation.  The existing risk management feature of price bands shall continue. PRR shall be within the applicable price bands defined for each contract/security.  The PRC functionality shall be applicable for all futures and option contracts of Equity Derivatives segment. It shall not be applicable for calendar spreads and paired option contracts.  Price Reasonability Range (PRR) applicable shall be in absolute value and based on the order price slabs to which the PRR belongs. Following shall be the PRR slabs: Index Future - PRR slabs for Index Futures shall be 1% of the reference price.  Stock Future SLAB (in USD) Order Price Range From Order Price Range To PRR in %age ( of reference price) USD 100

USD 500

USD 5000 

4%

1%

The Exchange may relax the applicable Price Reasonability Range and order price slabs depending on prevalent market conditions.

3.5 Reversal Trade Prevention Check (RTPC) This check is being introduced with an intention to prevent potential cases of trade reversal taking place on the Exchange trading platform. In this measure, the second leg (latest leg) of a reversal trade shall be automatically cancelled by the Exchange at the time of order matching in an on-line real time manner in the trading system. Reversal Trade Prevention Check is a check introduced by the exchange wherein the second leg of a reversal trade is automatically cancelled by the trading system. After a trade has been executed between two clients on a contract, if the same two clients try to square up this trade against each other, the trading system shall prevent this kind of reversal trade by cancelling the incoming (active) square up order on that contract. This check shall be applicable on trades executed on the same day and at an instrument (contract) level. It may be further noted that to begin with, RTPC shall be made applicable on all contracts available for trading in the INX Segment except current month and immediate next month contracts

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4. IT Applications and Facilities 4.1 Online Trade Download (OTD): OTD facilitates members to receive online trades during trading hours in the form of a separate file generated at a particular machine location as required by the member for each segment, subject to trading rights for that segment. This file is provided on real time basis (online trade file) to all trading members (TM) & Clearing members (CM). The file format of online trade file is same as end-of-day trade file. A. OTD File Activation Details to be provided by Members for connecting Online trade file application with India INX Trading System:i.

Trading member/ Clearing member to provide following details for connecting Online trade file application with India INX Trading System on email: [email protected] a) Trading member code: For example 9018 b) Trading member type: For example TM/ CM/ PCM / TCM c) Mode of connection: Lease line / Internet a. In case of Lease line: Lease line IP address of machine connected to INX Exchange. For Example IP address in range of 10.xxx.xxx.xxx b. In case of Internet: Static IP of machine where OTD set-up will be is installed.

ii.

Exchange will map details provided by trading member and provide configuration file (settings.ini) via e-mail. Trading member to copy same in the folder where Online Trade file (OTD.exe) is installed.

B. OTD File Installation guild Installation Steps of Online Trade file application Prerequisites: .Net Frame Work 4.0.  Lease Line connectivity/Internet on the machine  512MB RAM and above Steps:   

Download the Online trade file application available on following link: http://www.indiainx.com/boltpluslivesetup.aspx Double click on set up.exe (otd->otd->release->setup) Click on next button during the installation process On clicking upon “Release” folder, setup.exe would be seen.

Double click on setup.exe and complete the steps as mentioned in the set-up wizard window. 16 | P a g e

C. How to use Online Trade file i.

Trading member to e-mail requested detail mentioned in point 1(A) to [email protected] ii. Once the necessary mapping is completed members is provided configuration file (settings.ini) from Exchange, which needs to be copied within the OTD folder where ‘OTD.exe’ is installed. iii. Trading member to check ALLOWDOWNLOAD flag in settings.in file. User to click on ‘OTD.exe’ installed in his machine which will be connected to Exchange with message ‘REMOTE SERVER STATUS: CONNECTED WITH REMOTE SERVER’ and auto Trade file generation will start. The online trade file shall be generated in CSV format in the same folder where OTD.exe is present. D. DO’s and DON’Ts   

Users should not keep online trade file open else auto updation of Trade file will not happen. To view trades, user should copy trade file from OTD Folder and save the trade file in different location. It is recommended to take the copy of file rather than reading file directly from the location where we are writing data in file. Do not close OTD.exe once the online trade file is downloaded. If OTD.exe is closed, auto updation of trades in online trade file will not happen.

4.2 RTRMS Zero Terminal (ZT) System The RTRMS-ZT for the India INX is an enhanced version of the Admin terminal providing greater flexibility and control to the Admin user of a trading member firm to perform various admin and risk management functions. RTRMS-ZT has been integrated as a module within Real Time Risk Management System (RTRMS) which is already used by trading members. Being web based, RTRMSZT module provides ease of access to all trading members and can be accessed with authorized login credentials. Trading members can use their existing login credentials of RTRMS to access the RTRMSZT module. This will facilitate the trading member to simultaneously control his order level and posttrade level risk management activities through a single system. Following admin functionalities shall be made available as a part of RTRMS module A. View All Trades    

In ‘List Trades’ screen, trading member shall be able to view all trades performed by all his trading users. The trades done through both API based terminal and exchange offered terminal shall be available. Rectified trades shall also be updated in this screen. Following details of trades shall be available as part of the ‘List Trades’ view: User Id, Series Id, Buy/Sell, Qty, Rate, Series Code, Client Id, Client Type, Trade Id, Trade Time, etc. 17 | P a g e



Trading member can filter the trades on the basis following parameters: o User Id o Series Id o Trade Id o Order Id o Client Id o Client Type

B. View All Pending Orders     

In ‘Pending Order’ screen, trading member shall be able to view all orders entered by all his trading users which are either fully or partially unexecuted. Orders entered through both API based terminal and exchange offered terminal shall be visible in the ‘Pending Order’ screen. Modified orders shall also be updated in this screen. Following details for pending orders shall be available as part of the ‘Pending Order’ view: User Id, Order Id, Buy/Sell, Pending Qty, Rate, Trigger Rate, Series Id, Series Code, Client Id, Client Type, Time, etc. Trading member can filter the pending orders on the basis following parameters: o User Id o Series Id o Order Id o Client Id o Client Type

C. Cancel All Pending Orders Trading member shall have the facility to perform mass cancellation of all pending orders. On mass cancellation, pending orders for all the trading users under the trading member shall be cancelled. Single Order CancellationAdditionally, through ‘View all Pending Order’, facility is available for trading member to view all pending orders and cancel single order at a time. D. Single Order Quantity Limit     

Single order quantity limit specifies the maximum allowed quantity for each order. Trading member shall be allowed to set single order quantity limit for all its trading users. Trading member can enter separate single order quantity limit for Simple Instruments (Futures & Options) contracts and Complex Instruments (Calendar Spreads) contracts. Trading member shall also be allowed to edit the already existing Single Order Quantity Limit. Any addition/updates in the single order value limit done by the trading member shall be effective immediately. 18 | P a g e



Once the single order quantity limit is set by the trading member, BOLT plus trading system shall not allow that user to enter order quantity greater than the set single order quantity limit.

E. Trading member can refer to the following matrix for features that shall be available RTRMS-ZT. Features

Equity /Index Derivatives

View All Trades

Available Intra day

View All Pending Orders + Single Order cancellation Cancel pending orders for ‘Selected User IDs’ and ‘All User IDs’ Single Order Limit (Quantity & Value limit)

Available Intra day

Dealer Position

Available Intra day

Applicable Intra day Applicable Intra day

A. ‘Dealer Position’ Report in RTRMS 

‘Dealer Position’ report– This report shall be available in RTRMS under reports to view Trader ID wise contract wise current positions of a particular Trader based on his Location ID entered at the time of Trading . 4.3 Market Data Exchange disseminates market data broadcast through various types of streams in to its ETIAPI/IML usersEOBI (Enhanced Order Book Interface) EMDI (Enhanced Market Data Interface) MDI (Market Data Interface) NFCAST 4.4 Extranet facility for Members Exchange provides a web based facility, viz. EXTRANET to the members to access common and member specific data. This facility also enables members to upload / submit relevant member specific data as per Exchange requirements. 1. 2. 3. 4.

The salient features of the Extranet System are as below:  Web based download and upload system  Accessible through Internet and Intranet (i.e., leased lines)  Availability of 30 days history file downloads In addition to the Extranet System, India INX is also providing an Auto download application called “Extranet Plus”. This application needs to be installed at the members end. The member has to login to the application only once and the files will be downloaded to the local disk automatically as and when India INX provides the files for download. Extranet Plus application is currently accessible only on the private network (LAN, WAN, VSAT) and not on internet. 19 | P a g e

5. SUPPORT 5.1 Trading Support Please find below the contact details for various types of queries: Sr. No. 1 2 3 4 5

Type of Query Trading Operations BOW Support Connectivity related Membership related Various Product related

Email Address [email protected] [email protected] [email protected] [email protected] [email protected]

Contact Number +91-79-61993101/2 +91-22-2272 8080 (hunting) +91-79-6119 3108 +91-22-22728010/8466/5162 +91-79-61993140/57

5.2 Creation of trading user ids Process Flow for User ids creation   

Trading Operations receives IML/ ETI/BOW id creation request from Member. If the member request is as per format, the request is authorized and acted upon post verification. If the member request is not as per format, the member is communicated about the same and is asked to resend the request as per requisition format.

If the member’s application for creation of User Id is not as per the requisition form, it is liable for rejection (for the indicative reasons mentioned below)

Checklist for documentation requirements for Creation of User Ids on BOLT PLUS trading system: BOW ID

1. Apply through Iiefs portal

IML ID and ETI ID with new Vendor 1. 2. 3. 4.

Activation Form IML Undertaking Board resolution copy Annexure B

New IML Id & ETI with existing Vendor 1. Activation Form 2. IML Vendor declaration Form

5.3 Deactivation of Trading User IDs Process Flow for deletion of User ids in all segments 20 | P a g e

  

Member will require to send an application form for deactivation of User Id in a soft copy on an email to trading support desk. If the member’s request is not as per the requisition format, it is rejected and a pro-active call is made to the member for the same. Further, member is requested to resend with necessary changes to trading support desk. If the received request is authorized by anyone other than director/proprietor but above Manager Level, then trading support desk team verifies the authenticity of the person authorizing the request with the firm’s director/proprietor.

Sample Format / Attachment

1. Activation Form /De-Activation/Re-Activation 2. Annexure B 3. IML/ETI Undertaking 4. IML/ETI Vendor declaration Form

Application form for BOW / ETI /IML Ids (Activation/ De-Activation/Re-Activation) for INDIA INTERNATIONAL EXCHANGE (India INX) Email Scan Copy of Form to [email protected] on your letterhead

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Date: ____________

Clearing number for India INX Member name for India INX Do you wish to Activate / Deactivate/Re-Activate Trader ids (tick on one please) BOW/IML/ETI

________________________________________________

COLO/ NON COLO*

________________________________________________

HF-Full /HF-Lite/LFT^

_________________________________________________

IML/ETI Vendor Name

In-house development

_________________________________________________

Yes / No

For Pro/Own rights apply through Iiefs portal iN Name of the person who is sending this form

Mobile/Phone No. of this person Email id of this person Name of the person authorizing this request

Designation of authorized person (Designated Director/Manager /Complaisance Head & above ONLY)

Signature of authorized person

Name of Designated Director/ Partner & Contact Number (This is compulsory and can be used for ratification)

Seal/Stamp of member

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(This could be Company’s Stamp, Director Stamp or SEBI registration Stamp)

Declaration: We hereby undertake to abide by the terms and conditions laid down and circulated by INDIA INTERNATIONAL EXCHANGE (India INX) / SEBI from time to time. We hereby declare that the information furnished above is true and correct to the best of our knowledge and belief. We shall be responsible for any information found incorrect / misleading at a later date and decision of BSE Ltd. in this regard shall be final and binding on us. *COLO IDs are by default Non-Persistent *COLO & HFT Non Persistent - Orders are automatically cancelled in case of a trading interruption, session loss or exchange system failure and are only valid good-for-day. *Non COLO & HFT Non Persistent - Orders are automatically cancelled in case of a trading interruption, session loss or exchange system failure and are only valid good-for-day. *Non COLO& LFT Persistent- Order that survives a trading interruption. Persistent orders are always written to disk to prevent them from being lost during an emergency and remain in the book until their validity expires.

Annexure - B Auditor’s Report on Testing 23 | P a g e

(To be on the letterhead of the system auditor) I/We, M/s. (Name of the system auditor / system audit firm) have examined the reports of the tests conducted by the INDIA INX (IFSC) Ltd members M/s. __________________ (Membership No. :_______) In User Acceptance Testing (UAT), Exchange mock trading and Exchange Simulated Test environments. This is to certify that the member has successfully completed testing of all the areas (impacted components as well as the entire facility) including the areas as laid down by the Exchange for the below mentioned software / facilities in the said test environments separately. The below mentioned software / facilities are in compliance of the India INX/SEBI requirements and can be deployed in live environment. Category:

(New / Modification)

Name of the facility:

(IML/IBT/DMA/STWT/SOR/AT)

Exe/Browser/Lite (in case of IBT and STWT): Name of the Strategy/ies (in case of AT): Version No: Name of Software Vendor: Date/s of UAT performed Date/s of testing in Exchange test environment: Date/s of participation in Mock trading session: Declaration: There is no conflict of interest with respect to the member being audited and our directors / promoters are not directly or indirectly related to the current directors or promoters of the member being audited. Signature (Name of the Auditor & Auditing firm) CISA / DISA / CISM / CISSP Reg. No: Date: Place: Stamp/Seal:

(ON STAMP PAPER OF MINIMUM RS 100/-)

UNDERTAKING 24 | P a g e

THIS UNDERTAKING IS SIGNED AT GANDHINAGAR ON THIS ………DAY OF………….., 20--. BY: …………………………………………………, AN INDIVIDUAL/THE PROPRIETOR/DESIGNATED DIRECTOR/AUTHORIZED SIGNATORY OF M/S……………………………A PROPRIETORSHIP CONCERN/ A COMPANY HAVING MY/OUR OFFICE/REGISTERED OFFICE AT……………………………………………,A TRADING AND/OR CLEARING MEMBER OF THE INDIA INTERNATIONAL EXCHANGE (INDIA INX). WITH CLEARING NO………….. (HEREINAFTER REFERRED TO AS “MEMBER”, WHICH EXPRESSION, UNLESS REPUGNANT TO THE CONTEXT OR MEANING THEREOF, SHALL BE DEEMED TO INCLUDE HIS/HER/IT’S HEIRS, LEGAL REPRESENTATIVE AND SUCCESSORS). IN FAVOUR OF: INDIA INTERNATIONAL EXCHANGE (IFSC) LTD.,A SUBSIDIARY OF BSE LTD FORMED AFTER SIGNING MEMORANDUM OF UNDERSTANDING (MOU) WITH GIFT SEZ LTD HAVING OFFICE AT (HEREINAFTER REFERRED TO AS “INDIAINX”, WHICH EXPRESSION SHALL, UNLESS REPUGNANT TO THE CONTEXT OR MEANING THEREOF, BE DEEMED TO INCLUDE IT’S SUCCESSORS OR ASSIGNS) WHEREAS: INDIA INX HAS FORMULATED A MESSAGE BUS STRUCTURE TO IMPLEMENT INTERMEDIATE MESSAGE LAYER (“IML”) AND HAS DOCUMENTED THE SAME IN THE FORM OF BOLT OPEN MESSAGE BUS. INDIA INX DECIDED TO PERMIT ITS MEMBERS TO EXECUTE TRADES ON INDIA INX BY USING THE IML FACILITY. FOR SYSTEMATIC USE OF IML FACILITY BY ITS MEMBERS, INDIA INX HAS FRAMED THE IML SCHEME (“IML SCHEME”) CONTAINING VARIOUS REQUIREMENTS TO BE COMPLIED WITH BY THE MEMBERS. I/WE HAVE BEEN ADMITTED AS THE TRADING AND/OR CLEARING MEMBERSHIP OF INDIA INX AND AM/ARE DESIROUS OF AVAILING OF/CONTINUING WITH THE IML FACILITY AND/OR INTERNET BASED TRADING FACILITY, DEVELOPED BY INDIA INX EMPANELLED VENDOR M/S_________________________________________BY FULFILLING ALL THE TERMS AND CONDITIONS AS MAY BE SPECIFIED BY INDIA INX, FROM TIME TO TIME. In consideration of INDIA INX HAVING AGREED TO ALLOW MEMBER TO AVAIL OF/CONTINUE WITH THE IML FACILITY, THE MEMBER UNDERTAKES UNCONDITIONALLY AND IRREVOCABLY TO COMPLY WITH THE FOLLOWING TERMS AND CONDITIONS: (1)

INDIA INX SHALL BE ENTITLED TO AMEND IT’S RULES, BYE-LAWS AND REGULATIONS AND THE IML SCHEME AND I/WE SHALL BE DEEMED TO HAVE CONSENTED TO SUCH AMENDMENTS/MODIFICATIONS.

(2)

I/WE SHALL COMPLY WITH AND BE BOUND BY THE RULES, BYE-LAWS AND REGULATIONS OF INDIA INX AND THE IML SCHEME FRAMED BY INDIA INX OR ANY MODIFICATIONS/AMENDMENTS MADE THEREIN FROM TIME TO TIME AND ALSO THE CIRCULARS, NOTICES, DIRECTIONS ISSUED BY INDIA INX FROM TIME TO TIME.

(3)

I/WE UNDERTAKE TO USE IML FOR :- ( TICK WHICHEVER IS APPLICABLE) (A) TRADING ON INDIA INX PLATFORM USING THIRD PARTY SOFTWARE. (B) FOR INTERNET BASED ORDER ROUTING SYSTEMS (C) FOR SETTLEMENT/BACKOFFICE SYSTEM (D) ANY OTHER PURPOSE WITH THE PERMISSION OF INDIA INX. (PLEASE SPECIFY). ________________________________________________________ 25 | P a g e

(4)

I/WE SHALL NOT ASSIGN OR OTHERWISE TRANSFER THE RIGHTS AND OBLIGATIONS ARISING OUT OF THE USE OF THE IML FACILITY AND THIS UNDERTAKING WHETHER IN WHOLE OR IN PART WITHOUT THE PRIOR WRITTEN CONSENT OF INDIA INX.

(5)

I/WE AGREE NOT TO USE, WITHOUT THE EXPRESS PERMISSION OF INDIA INX, THE NAME OF INDIA INX TO DIRECTLY OR INDIRECTLY PROMOTE MY/OR BUSINESS.

(6)

INDIA INX SHALL NOT BE RESPONSIBLE FOR DEVELOPMENT, MAINTENANCE, UPDATES, UPGRADES, ERROR-FIXES AND ANY OTHER SUPPORT OF MY/OUR SOFTWARE FOR ACCESSING THE IML FACILITY AND SHALL NOT BE LIABLE FOR ANY LOSS SUFFERED BY ME/US DUE TO THE USE OF THE SOFTWARE FOR ACCESSING THE IML FACILITY.

(7)

NEITHER INDIA INX NOR THE DIRECTORS, MANAGERS, OFFICERS, EMPLOYEES OR AGENTS OF INDIA INX, GUARANTEE THE FUNCTIONING OF THE IML FACILITY. INDIA INX AND THE DIRECTORS, MANAGERS, OFFICERS, EMPLOYEES AND AGENTS OF INDIA INX SHALL NOT BE LIABLE IN ANY WAY TO ME/US OR TO ANY OTHER PERSON, FOR ANY NON-PERFORMANCE OR INTERRUPTION OF IML FACILITY OR FOR ANY DAMAGES, CONSEQUENTIAL OR OTHERWISE, ARISING THERE FROM ON OCCASIONED THEREBY. NO PROCEEDINGS WOULD BE ADOPTED BY ME/US OR ANY THIRD PARTY AGAINST INDIA INX OR AGAINST ANY INDIVIDUAL OFFICER OR EMPLOYEE OF INDIA INX FOR ANY ACT DONE BY SUCH OFFICER OR EMPLOYEE OF INDIA INX IN THEIR OFFICIAL CAPACITY.

(8)

I/WE SHALL INDEMNIFY AND KEEP INDEMNIFIED INDIA INX, ITS DIRECTORS, OFFICERS AND EMPLOYEES HARMLESS AGAINST EVERY AND ALL CLAIMS, DEMANDS, ACTIONS, PROCEEDINGS, DAMAGES, LIABILITIES, LOSSES, COSTS AND EXPENSES SUFFERED OR INCURRED BY THEM DIRECTLY BY REASON OF THE PROVISION OF THE IML FACILITY TO ME/US OR BY REASON OF MY/OUR NON-COMPLIANCE, CONTRAVENTION WITH THE ANY OF THE PROVISIONS OF THIS UNDERTAKING.

(9)

THIS UNDERTAKING IS APPLICABLE NOT ONLY IN RESPECT OF THE INFORMATION SERVICES AND TERMINAL EQUIPMENT CURRENTLY OFFERED TO ME/US BUT ALSO IN RESPECT OF ANY INFORMATION SERVICES AND TERMINAL EQUIPMENT DEVELOPED BY OR FOR ME/US IN THE FUTURE.

(10) WITHOUT PREJUDICE TO ANY OTHER RIGHT UNDER ANY LAW FOR THE TIME BEING IN FORCE OR WHICH MAY BECOME APPLICABLE, INDIA INX SHALL BE VESTED WITH THE EXCLUSIVE RIGHT, UPON MY/OUR NON-COMPLIANCE WITH ANY OF THE TERMS AND CONDITIONS OF THIS UNDERTAKING OR UPON THE TERMINATION, SUSPENSION OR MY/OUR MEMBERSHIP OR UPON MY/OUR CEASING TO BE A MEMBER OF INDIA INX, TO TAKE, AT ITS DISCRETION, SUCH ACTIONS, STEPS, PROCEEDINGS, MEASURES, DECISIONS WHICH IN SUCH PERIOD OF TIME AND UPON SUCH TERMS AND CONDITIONS AS IT MAY DEEM FIT AND THAT ANY SUCH ACTIONS, STEPS PROCEEDINGS, MEASURES, DECISIONS MAY, INTER-ALIA, INCLUDE DENIAL OF ACCESS TO THE IML FACILITY AND/OR TAKE SUCH DISCIPLINARY ACTIONS AS IT DEEMS FIT. I/WE FURTHER UNDERTAKE THAT I/WE SHALL ABIDE BY AND BE BOUND BY ANY ACTIONS, STEPS, PROCEEDINGS, MEASURES, DECISIONS AS MAY BE TAKEN BY INDIA INX. (11) NO FORBEARANCE, DELAY OR INDULGENCE BY INDIA INX IN ENFORCING THE PROVISIONS OF THIS UNDERTAKING SHALL PREJUDICE OR RESTRICT THE RIGHTS OF INDIA INX NOR SHALL ANY WAIVER OF ITS RIGHTS OPERATE AS A WAIVER OF ANY SUBSEQUENT BREACH AND NO RIGHT, POWER OR REMEDY HEREIN CONFERRED UPON OR RESERVED FOR INDIA INX TO EXCLUSIVE OF ANY OTHER RIGHT, POWER OR REMEDY AVAILABLE TO INDIA INX AND EACH SUCH RIGHT, POWER OR REMEDY SHALL BE CUMULATIVE. 26 | P a g e

(12) THIS UNDERTAKING SHALL BE BINDING UPON MY/OUR HEIRS, SUCCESSORS, LEGAL REPRESENTATIVES AND ASSIGNS. (13) I/WE SHALL EXECUTE, SIGN, AND SUBSCRIBE, TO SUCH OTHER DOCUMENTS, PAPERS, AGREEMENT, COVENANTS, BONDS AND/OR UNDERTAKING AS MAY BE PRESCRIBED OR REQUIRED BY INDIA INX FROM TIME TO TIME. (14) I/WE SHALL ENSURE PROPER EVALUATION OF THE IML VENDOR ONLY AFTER DUE DILIGENCE IN TERMS OF QUALITY OF VENDOR AND HIS PRODUCT, FEATURES OF VENDOR PRODUCT, LOOK & FEEL OF THE VENDOR PRODUCT, THE FACILITIES/OPTIONS OF THE VENDOR PRODUCT, AND COMPETENCY IN TERMS OF FUTURE DEVELOPMENT & SUPPORT. I/WE SHALL SOLELY RESPONSIBLE FOR THE SELECTION OF VENDOR AND IT’S PRODUCT. (15) I/WE ENSURE THAT THE PROPER SYSTEMS ARE IMPLEMENTED FOR TESTING, QUALITY ASSURANCE, REDUNDANCY OF OPERATIONS, AND TRAINING, BACKUP PROCEDURES DURING DAY-TO-DAY USAGE OF THE IML SOFTWARE, AS WELL AS DURING THE DEPLOYMENT PROCESS OF IML SOFTWARE VERSIONS/RELEASES/CHANGES. (16) I/WE AGREE AND ACCEPT THE INDIA INX’S RIGHT TO CONDUCT THE AUDIT & INSPECTION OF THE IML SOFTWARE IMPLEMENTED AT OUR OFFICE. (17) I/WE SHALL EXECUTE PROPER TRAINING OF IML PRODUCT FROM THE IML VENDORS IN TERM OF OPTIONS, FACILITIES, FEATURES, AND LIMITATIONS OF THE PRODUCT, CHANGE PROCEDURE AND ANY CUSTOMIZATION. I/WE SHALL ENSURE THAT THE REQUIRED DOCUMENTATION, TRAINING MATERIAL IS PROCURED FROM THE IML VENDOR AND HAS BEEN EVALUATED AND UNDERSTOOD BY OUR TECHNICAL TEAM. (18) I/WE AGREE AND ACCEPT THE OBLIGATION TO ENSURE COMPLETE COMPLIANCE OF ALL REGULATORY & EXCHANGE REQUIREMENTS FROM TIME-TO-TIME. In Witness Whereof THIS UNDERTAKING IS EXECUTED BY ME/US (***AS PER THE RESOLUTION PASSED BY THE BOARD OF DIRECTORS IN THEIR MEETING HELD ON …………….) ON THE DAY AND THE YEAR MENTIONED HEREINABOVE.

(*** Out of I/We or me/us or my/our, please delete whichever is not applicable )

SIGNED and DELIVERED) 27 | P a g e

By, for and on behalf of …………………………….

Name: Title:

In the presence of …………… Name:

SCHEDULE I LIST OF APPROVED PERSONS FOR IML (IN THE FOLLOWING FORMAT) 1.

NAME OF PERSON DESIGNATION COMPANY NAME FULL ADDRESS:

TEL NO.: FAX NO.

28 | P a g e

IML/ETI VENDOR DECLARATION for INDIAINX

(Format should be Member's Letterhead)

We (Company Name) wish to apply for new IML/ETI id no. ______ Hereby we declare that our IML/ETI Vendor for this IML/ETI id no. ________ Under (Vendor name) _________ remains unchanged. Further, IML / ETI agreement of this Vendor has already been signed by us with INDIA INX.

Sincerely,

29 | P a g e

PART III - Formats of various files and reports provided by the Exchange File name and formats

Trading members of the Exchange are hereby requested to note following list of files which shall be made available at the end of trading session for settlement as per below table.

Sr. File Name No. Trading related 1 Contract Master file 2 Daily Price Band File EOD Trade File for member Trade File for TM 3 Trade File for CM Trade File for TM Trade File for CM Real time trade file for Members Online Trade File for TM 4 Online Trade File for CM Online Trade File for TM Online Trade File for CM 5

Market Summary File

Settlement Related Position File Trading Member 6 Clearing Member Trading Member Clearing Member Bank File Details Trading Member 7

Clearing Member Trading Member Clearing Member

8 9

Margin File to Trading Members Margin File to Clearing Members

Nomenclature of the file

Trading session

INX_CO_yyyymmdd INX_DPR_yyyymmdd

End of session 2 End of session 2

INX_TRTM__yyyymmdd_1 INX_TRCM__yyyymmdd_1 INX_TRTM__yyyymmdd_2 INX_TRCM__yyyymmdd_2

End of session 1 End of session 1 End of session 2 End of session 2

INX_ITRTM__yyyymmdd_1 INX_ITRCM__yyyymmdd_1 INX_ITRTM__yyyymmdd_2 INX_ITRCM__yyyymmdd_2

For session 1 For session 1 For session 2 For session 2

INX_MS_yyyymmdd_1 INX_MS_yyyymmdd_2

End of session 1 End of session 2

INX_POTM___1.csv INX_POCM___1.csv INX_POTM___2.csv INX_POCM___2.csv

End of session 1 End of session 1 End of session 2 End of session 2

INX_BANKTRN__TM_1.csv INX_BANKTRN__CM_1.csv INX_BANKTRN__TM_2.csv INX_BANKTRN__CM_2.csv INX_MGTM_ _1.csv INX_MGTM_ _2.csv INX_MGCM_ _1.csv

End of session 1 End of session 1 End of session 2 End of session 2 End of session 1 End of session 2 End of session 1 30 | P a g e

INX_MGCM_ _2.csv INX_MGTMTMID_1.Mnn INX_MGCMCMID_1.Mnn INX_MGTMTMID_2.Mnn INX_MGCMCMID_2.Mnn

End of session 2 End of session 1 End of session 1 End of session 2 End of session 2

10

Margin File from Trading Member /Clearing Member

11

Response of Margin File to Trading Member /Clearing Member

INX_MGRTM_TMID__1.csv INX_MGRCM_CMID__1.csv INX_MGRTM_TMID__2.csv INX_MGRCM_CMID__2.csv

End of session 1 End of session 1 End of session 2 End of session 2

Penalty File to Trading Member/Clearing Member Settlement Calendar

INX_PNLTM_TMID_.csv INX_PNLCM_CMID_.csv INXSETTMAS_MMYY.csv

End of session 2 End of session 2 Once in a Month

12 13

File structures of above mentioned files is available in Part III as attachment.

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